Creating an estate plan is one of the most important steps you can take to protect your legacy, provide for loved ones, and ensure your wishes are honored. In Missouri, a well-crafted estate plan can help avoid probate delays, minimize disputes, and give you peace of mind. But simply having a will or trust is not enough. Your plan must be accurate, up-to-date, and aligned with your personal goals.
The estate planning lawyers at Mark Harford Law can build a customized plan that fits your life and situation. Here is how to ensure your estate plan truly reflects your wishes under Missouri law.
Start with the Right Documents
A complete estate plan in Missouri typically includes:
- Last Will and Testament: Specifies how your assets should be distributed and names guardians for minor children.
- Revocable Living Trust: Allows for asset management during your lifetime and avoids probate after death.
- Durable Power of Attorney: Authorizes someone to manage your financial affairs if you become incapacitated.
- Health Care Directive: Includes a living will and medical power of attorney to guide health care decisions.
- Beneficiary Designations: Applies to life insurance, retirement accounts, and payable-on-death (POD) accounts.
Each document must comply with Missouri statutes to be valid.
Keep Your Plan Current
Your estate plan should evolve with your life. Major changes such as marriage, divorce, the birth of a child, or the death of a beneficiary can affect how your plan functions. In Missouri, outdated documents may lead to unintended consequences or legal challenges.
Review and update your estate plan:
- After major life events
- Every 3–5 years, even without changes
- When laws affecting estate taxes or probate procedures change
Failing to update beneficiary designations or asset titles can result in assets passing to the wrong person or being subject to probate unnecessarily.
Understand Missouri’s Probate and Trust Laws
Missouri law governs how wills and trusts are interpreted and enforced. Key considerations include:
- Probate Avoidance: Assets held in a revocable living trust or titled with transfer-on-death (TOD) designations bypass probate.
- Spousal Rights: Missouri recognizes elective share rights, allowing a surviving spouse to claim a portion of the estate regardless of the will.
- Non-Probate Transfers: Missouri allows TOD deeds for real estate, which transfer property directly to named beneficiaries upon death.
Understanding these rules helps ensure your estate plan functions as intended and avoids unnecessary court involvement.
Clarify Your Intentions
Ambiguity is one of the leading causes of estate disputes. To ensure your wishes are clear:
- Use precise language in your documents
- Avoid vague terms like “fair” or “equal” without defining them
- Specify how assets should be divided, especially if some are sentimental or unique
- Include contingency plans if a beneficiary predeceases you
In Missouri, courts interpret estate documents based on the testator’s intent. Clear drafting reduces the risk of misinterpretation or litigation.
Choose Your Fiduciaries Wisely
Your estate plan is only as effective as the people you appoint to carry it out. Missouri law allows you to name:
- Executor: Manages your estate and ensures your will is followed
- Trustee: Oversees trust assets and distributions
- Agents under Power of Attorney: Handle financial and medical decisions if you are incapacitated
Choose individuals who are trustworthy, organized, and capable of handling legal and financial responsibilities. Consider naming alternates in case your first choice is unavailable.
Organize and Communicate
Even the best estate plan can fail if no one knows where to find it. To ensure your wishes are honored:
- Store original documents in a secure but accessible location
- Provide copies to your attorney and key family members
- Maintain a list of accounts, passwords, and financial institutions
- Communicate your intentions with loved ones to reduce confusion and conflict
Missouri courts require original wills for probate, so proper storage is essential.
Schedule a Meeting with an Experienced Missouri Estate Planning Attorney Today
Ensuring your estate plan reflects your wishes in Missouri means more than filling out forms. It requires thoughtful planning, regular updates, and clear communication. By taking proactive steps today, you can protect your legacy and give your loved ones the clarity they need tomorrow.
Let the dedicated estate planning attorneys at Mark Harford Law help you safeguard your wishes. Contact us today for a consultation.